NV5 Global Inc (NVEE)
Quick ratio
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 44,824 | 46,439 | 28,827 | 31,341 | 38,541 | 54,171 | 44,422 | 81,948 | 47,980 | 121,397 | 113,023 | 92,925 | 64,909 | 64,022 | 65,212 | 38,326 | 31,825 | 31,425 | 44,436 | 45,814 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 152,593 | 166,859 | 149,110 | — | 145,637 | — | — | — | 153,814 | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 159,419 | 193,610 | 166,529 | 168,727 | 160,894 | 163,874 | 156,228 | 152,862 | 163,951 | 135,805 | 134,198 | 136,331 | 136,186 | 113,334 | 119,236 | 109,389 | 114,358 | 80,182 | 76,618 | 72,968 |
| Quick ratio | 1.24 | 1.10 | 1.07 | 0.19 | 1.14 | 0.33 | 0.28 | 0.54 | 1.23 | 0.89 | 0.84 | 0.68 | 0.48 | 0.56 | 0.55 | 0.35 | 0.28 | 0.39 | 0.58 | 0.63 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($44,824K
+ $—K
+ $152,593K)
÷ $159,419K
= 1.24
The quick ratio of NV5 Global Inc has shown fluctuations over the past several quarters. As of December 31, 2023, the quick ratio was 1.24, indicating that the company had $1.24 of liquid assets available to cover each $1 of current liabilities. This suggests a healthy liquidity position. However, the quick ratio dropped to 0.19 as of March 31, 2023, which may raise concerns about the company's short-term liquidity.
The quick ratio improved significantly in the following quarters, reaching 1.14 as of December 31, 2022, and 1.23 as of December 31, 2021. This upward trend reflects an improvement in the company's ability to cover its short-term obligations with liquid assets.
On the other hand, there were periods of lower quick ratios, such as 0.33 as of September 30, 2022, and 0.28 as of June 30, 2022. During these periods, the company may have faced challenges meeting its short-term financial obligations.
Overall, monitoring the quick ratio trend of NV5 Global Inc is vital to assess the company's liquidity position and its ability to manage short-term financial obligations effectively.
Peer comparison
Dec 31, 2023